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INDIA LOOKS TO STRENGTHEN POLITICAL & ECONOMIC TIES AS IT ROLLS OUT THE red carper for ASEAN (Association of South-Eeast Asian Nations)

News dalla rete ITA

30 Gennaio 2018

India

INDIA LOOKS TO STRENGTHEN POLITICAL & ECONOMIC TIES AS IT ROLLS OUT THE red carper for ASEAN (Association of South-Eeast Asian Nations)

According to the press, India is being consistent with its act-east policy by reaching out to Southeast Asia as business delegations and government officials from the Association of Southeast Asian Nations (Asean) poured in for 69th Republic Day Celebrations and marking 25 years of India-ASEAN relations.
According to economists the importance of ASEAN emerges from the fact that Asean is home to 640 million people, close to nine per cent of the world’s population, which is more than the European Union, In 2015, their combined nominal gross domestic product had grown to a little more than $2.8 trillion (€2.26 tn). If Asean was single entity, it would be the sixth largest economy in the world — behind America, China, Japan, France and Germany.
As per the data available, India’s trade and investment ties have been pegged at a little more than $71 billion (€57.4 bn) and it expects it to improve to $200 bn (€162 bn) by 2022. Currently, imports from the bloc exceed export by $9.6 billion (€7.76 bn) as India also aim to a successful outcome of the proposed Regional Comprehensive Economic Partnership (RCEP) deal by the end of 2018, which is a proposed free trade agreement (FTA) between the 10 Asean economies and six others nations — Australia, China, India, Japan, South Korea and New Zealand.
(ICE NEW DELHI)